Last month, we talked about laying off people during the holidays. (I know, it sucks for both sides.)
So, for today, let’s talk about the happier opposite: hiring people after the holidays.
Sure, hiring the right people for the job remains paramount, but as with anything, timing is equally critical. When you hire can increase or decrease your chances of finding the right person, so there’s long been a debate about the best time for hiring new employees.
Some say it’s best to hire during the summer. Others vouch for the fall. (Although everyone agrees that hiring during the holidays is the worst.)
Here at Remote Staff, though, we firmly believe that hiring new people within the first quarter provides the best results.
Read on to find out why.
Bigger Pool Of High-Quality Applicants
January gives you your pick of qualified applicants, what with people fresh off the holidays, December graduations, and New Year’s resolutions.
There’s another reason why it’s a great time to make an especially big hire. Unsatisfied employees or people who are looking to switch jobs or careers often jump ship in the first quarter. Why? Because they have to stay in their jobs till the end of the last quarter to claim their year-end bonuses and maximise their remaining paid leaves.
Lastly, contractual employees will have just finished their holiday gigs and will be raring to start ASAP.
Fresh Budgets and Clear Hiring Goals
The first quarter signals the beginning of a new fiscal year for most companies. By this time, they’ve discussed and allotted their hiring budgets already.
Furthermore, each department will also have discussed the additional manpower they’ll be needing for the coming year. This way, the company can save time having to budget or plan around new hires.
New Hires Can Assimilate Better During Q1
New hires who join a new company during the first quarter tend to assimilate better. The timing allows them to experience the business’ activities throughout the year in the right order, preventing anyone from having to fill in the gaps.
As a bonus, the new hires have more time to adjust to the company culture. So, by the time the holiday parties or mid-year bonuses come around, they’ll have fit in better.
The earlier and faster you can get promising new hires to buy in to your company, the better for everyone involved.
People Take Less Time Off In Q1
Speaking of assimilating better, all the key people will be available to train and onboard the new hires in January. Everyone will be coming back from the holidays and are unlikely to go on leave again anytime soon. (They’ll be saving their paid leaves for later in the year, after all.)
It’ll thus be easier for new hires to learn the ropes with everyone in place. Plus, the team will gel better faster.
Save Money on Year-End Bonuses
You usually give out bonuses in December, so putting off hiring new people until the next month can help you save money.
Bringing in new hires in January also means that they’ll have the whole year to earn those bonuses, as opposed to half the year, for instance.
The bottom line here is that new years are usually great for fresh starts. However, do note that the first quarter can mean a different time period for certain industries.
For instance, it’s possible that yours might go by a different fiscal year, so your Q1 might actually take place later in the calendar year. If that’s the case, it’s best to do your hiring at a time period that meets all the conditions mentioned above.
Thinking of hiring remote workers for the first time? You’ve come to the right place. Remote Staff has been helping AU businesses like yours find, hire, and onboard skilled remote workers from the Philippines for 14 years and counting. Whether you need to hire a virtual assistant or an entire customer support team, we’ve got your back – any time of the year.